Underdog And Crypto.com Team Up for Sports Prediction Markets

The partnership is evidence of a drive to expand access in markets where authorized sports betting has not been launched.

Ziv Chen

Last Updated: September 2, 2025 2:51 PM EDT • 3 minute read

Underdog And Crypto.com Team Up for Sports Prediction Markets — Pictured: The logo of the Crypto.com application app, on which cryptocurrencies can be traded, can be seen on the display of an iPhone. Photo by Silas Stein/dpa/Sipa USA

Underdog has partnered with Crypto.com to launch sports prediction markets in 16 states, positioning itself as the first sports betting site to enter the space formally. The partnership is evidence of a drive to expand access in markets where authorized sports betting has not been launched.

The new system will provide markets in premier leagues such as the NFL, NBA, MLB, and college football, with in-game trading on a real-time basis. Underdog CEO Jeremy Levine said prediction markets are still evolving but are set to be primarily driven by sports.

Sports betting is already offered by Underdog in the North Carolina sports betting market, and it plans to launch in the Missouri sports betting scene when sports betting is legalized in December. It also offers daily fantasy sports in multiple states.

By leveraging Crypto.com's blockchain infrastructure and payment network, the collaboration also reflects growing interest in digital finance tools within wagering.

Prediction markets are distinct from the best sportsbooks since they contain no bookmaker. Instead, players wager on contracts concerning sporting event results whose prices change due to demand and supply.

Competition in this developing sector has intensified. In August, FanDuel announced a partnership with CME Group to create financial event contracts, while DraftKings has publicly discussed opportunities in the same field.

Robinhood expands prediction markets to football

The growing interest in prediction-style products has also drawn attention from financial platforms. Robinhood confirmed it is adding NFL and college football to its prediction markets, with trading opening on outcomes for the first two weeks of the football season before expanding to weekly matchups. The events will be structured as peer-to-peer contracts, where customers trade with one another rather than a bookmaker.

Trading will run within designated hours, and the company described the expansion as a natural move given consumer interest in sports.

“Adding pro and college football to our prediction markets hub is a no-brainer for us as we aim to make Robinhood a one-stop shop for all your investing and trading needs,” said Robinhood VP of Futures and International JB Mackenzie.

Since launching prediction markets late last year, Robinhood has processed more than two billion contracts. Its football expansion comes amid heightened regulatory scrutiny over whether event-based contracts fall under state gambling laws.

At the same time, rival Kalshi is pursuing approval to list additional player and spread betting markets, reflecting how multiple firms are testing regulatory boundaries with sports-focused prediction platforms.

More Underdog moves

While prediction markets gain momentum nationally, some operators are also pursuing entry into Missouri’s upcoming sports betting market.

Underdog Fantasy and DraftKings were two of the first to submit applications to operate in the state, with Underdog applying for a mobile license and DraftKings being awarded an untethered license with Circa Sports.

Missouri's framework allows operators to enter the market either through partnerships with the state's 13 casinos or six professional sports franchises, or by securing one of the limited solo licenses. The St. Louis Cardinals have linked with bet365, while Century Casinos reached an agreement with BetMGM.

Partnership applicants have until Sept. 12 to file.

Written by:
Ziv Chen

Ziv has over two decades of experience in the igaming and sports betting industry, having served in senior marketing and business development positions with both B2C and B2B companies, including Playtech and Microgaming. In 2019, Ziv decided to pursue his passion for writing and became a fulltime industry journalist, covering casino, sports, and gambling business news. He’s specialties include casino games and technology, US state gambling regulation, company performance, as well as gambling affiliates and marketing. As a Pitt graduate, Ziv is a diehard fan of all Pittsburgh sports teams, with the Steelers at the top of the list. In his free time, he enjoys reading crime fiction, biographies (mainly of sports personalities, but not only) and American history. Ziv’s Favorite quote: “We're going to pursue perfection, knowing full well we won't catch it, but we're going to relentlessly chase it," Mike Tomlin, Pittsburgh Steelers Head Coach.